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    Biotech Stock Leader: Advanced Cell Technology Review

    Biotech Stock Leader: Advanced Cell Technology Review

    Shares of Advanced Cell Technology Inc. (OTC: ACTC) are continuing to climb in today’s trading after the company yesterday announced that it entered into an agreement with CHA Bio & Diostech Co. Ltd. that will improve the efforts of the two companies’ joint venture. At last check, Advanced Cell Technology shares were trading 3.76% higher at $0.193, with volume at 4.10 million.

    The joint venture between Advanced Cell and South Korea-based CHA is called Stem Cell & Regenerative Medicine International (SCRMI). As per the terms of the agreement, ACT will have exclusive license to SCRMI’s hemangioblast program in North America. CHA will have the exclusive license to the program for Korea and Japan.

    Under the agreement, the SCRMI scientists engaged in hemangioblast research have been reassigned to ACT. The scientists will continue with their research activities as ACT employees.

    The hemangioblast technology developed by SCRMI and ACT is suited for the development of stem cell-based therapies. Robert Lanza, M.D., chief scientist officer of ACT, said that the clinical prospects for the technology are immense. According to Lanza, Hemangioblasts can be used to provide transfusable blood components as well as cells capable of affecting vascular repair. Lanza expects the programs to eventually address the critical care shortage of blood for emergency situations.

    Gary Rabin, interim chairman and CEO of ACT, said that given the progress that has been made by the team at SCRMI and ACT, the new exclusive license affords the company a unique new pipeline of therapeutic products.

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